Arguably the hottest sector of the year. EV stocks, companies directly and indirectly related to the manufacturing of electric vehicles, have been on fire all year, and in particular this month.
Joe Biden is widely projected favorite to win this year’s presidency. This is viewed as a positive catalyst for the industry, with his policies expected to favor the growth and adoption of EV vehicles and their technology.
Whether you are a day trader, swing trader, or long term investor, there are opportunities galore in this sector. Many of these
Here are 9 EV stocks to keep on your watch list:
NIO
Market Cap: $66.93B
One of the stocks of the year. Up over 10x since March lows, this Chinese EV company is the stock everyone is talking about. It sells and manufactures in China, Hong Kong, the United States, the United Kingdom, and Germany.No doubt it is overbought. If you are in already, not a bad time to start taking profits. If you’re flat, wait for a pullback, do not chase it up here.
WKHS
Market Cap: $2.21B
A US-based EV manufacturer, another name that was hot this summer. It has pulled back hard in the past couple months, but recently found a bid after the election news.
SOLO
Market Cap: $325M
Canada-based EV manufacturer. It’s flagship vehicle is actually a one-seater, it is a much smaller company than WKHS, NIO, and many other’s on this list. I threw on this list because of its Canadian origins.
XPEV
Market Cap: $33.8B
Another EV manufacturer in China. Unlike NIO, it only manufactures and distributes in China. It’s automated driving system has brought a ton of hype into the name. It has been the stock of the week. A recent IPO, it is currently trading at all time highs, up 150% from it’s IPO price. Keep this near the top of your watch list.
TSLA
Market Cap: $397.7B
The company that needs no introduction. One of the most controversial companies in the whole stock market because of it’s high valuation relative to it’s balance sheet. It is one of the best examples of how little fundamentals can matter on short term price action. In consolidation mode right now.
HYLN
Market Cap: $3.77B
This company does not manufacture electric vehicles but provides battery management systems for hybrid and fully electric vehicle applications. Another beaten-down name from the summer that recently found a bid. One to keep on watch to see if it can break out of this consolidation.
LI
Market Cap: $27.7B
Li , designs, develops, manufactures, and sells smart electric sport utility vehicles (SUVs) in China (through its subsidiaries). Another recent IPO, similar look to XPEV, been on a monster tear the past week. Big sell off on Friday, should still have a lot of range liquidity to day trade off of next week.
NKLA
Market Cap: $8.1B
Another controversial EV name. Nikola Corporation operates as an integrated zero-emissions transportation systems provider. It designs and manufactures battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems, and hydrogen fueling station infrastructure.
That is the website description. The fundamentals are garbage on this company. While this company a huge turd, it is a great trading vehicle for us momentum traders. I wouldn’t be surprised if we saw another big short squeeze sometime this year before it continues to fade off.
FSR
Market Cap: $1.2B
Fisker, Inc. operates in the automotive industry that develops eco-friendly electric vehicles. The company is based in Manhattan Beach, California. It is one of the smaller fish in the industry, but it has been on a monster run since the night of the election. Over $18 is a major break out level for this name, wouldn’t surprise me if we saw $20+ before the end of the year.
